Regulation 8 - Execution of bond and furnishing of security - Customs Brokers Licensing Regulations, 2013

8. Execution of bond and furnishing of security.- (1) Before granting the licence under regulation 7, the 2 [Principal Commissioner of Customs or Commissioner of Customs, as the case may be] shall require the successful applicant to enter into 1 [a bond] in Form D and where specified a surety bond in Form E for due observance of these regulations and furnish a bank guarantee, a postal security or National Saving Certificate in the name of 2 [Principal Commissioner of Customs or Commissioner of Customs, as the case may be] for an amount of five lakhs rupees for carrying out the business as Customs Broker. (2) In cases where a postal security or National Saving Certificate is furnished, the benefit of interest accruing thereon shall accrue to the Customs Broker concerned. ---------------------- Notes:- Corrected vide Corrigendum dated 19-7-2013 , b efore it was read as, the bond . Substituted vide Not. 56/2014 - Dated 6-8-2014